Kraft Heinz Q3 adj. EPS +14% to $0.72; FY guidance raised; President Int'l Markets departing

Kraft Heinz Co

Q3 net sales $6.57B (+1% YoY); Organic net sales +1.7%; price +7.1pp, volume/mix -5.4pp.
Adj. EPS $0.72 (+14.3%); Adj. EBITDA $1.565B (+11.9%); gross margin expanded 568bps to 34.0%.
FY 2023 guidance: Adj. EPS raised to $2.91-$2.99 (from $2.83-$2.91); Constant Currency Adj. EBITDA growth raised to 5-7%.
Net leverage target of ~3.0x reached, currently at 2.9x.
Pedro Navio named President, North America; International zone split into three; Rafael Oliveira advisor through Mar 2024.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Rafael Oliveira

President, International Markets

KHC · Kraft Heinz Co

Effective: 2023-12-31
Filed: November 1, 2023, 7:59 PM ET

On November 1, 2023, the Company announced that, in connection with certain organizational changes, the position of President, International Markets, which is held by Rafael Oliveira, will be eliminated effective December 31, 2023.

Appointed

Rafael Oliveira

Advisor

KHC · Kraft Heinz Co

Filed: November 1, 2023, 7:59 PM ET

Mr. Oliveira will remain with the Company as an Advisor through March 31, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Kraft Heinz Co reported financial results for the third quarter ended September 30, 2023.

Period: the third quarter ended September 30, 2023
Result: reported results

Exact text from the filing

On November 1, 2023, The Kraft Heinz Company issued a press release announcing results for the third quarter ended September 30, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rafael Oliveira departed as President, International Markets at Kraft Heinz Co.

Action: separated
Role: President, International Markets

Exact text from the filing

On November 1, 2023, the Company announced that, in connection with certain organizational changes, the position of President, International Markets, which is held by Rafael Oliveira, will be eliminated effective December 31, 2023.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Rafael Oliveira was appointed as Advisor at Kraft Heinz Co.

Action: appointed
Role: Advisor

Exact text from the filing

Mr. Oliveira will remain with the Company as an Advisor through March 31, 2024.

View on SEC.gov

59 earnings releases filed in the last 30 days. Browse all earnings releases →

Kraft Heinz Co filing history →

Source: SEC EDGAR

accession 0001637459-23-000141

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